Jim
Orlando,#2Consumer Suggestion
Sun, March 05, 2006
Ted: Why did you even allow your wife to consider such a bad, bad deal? They push a car FLEASE because there's much more profit in it for them and a bigger commission. Lets look at what the salesman may not have told you: 1. In a FLEASE, your car insurance most likely will be higher than if you bought the same car. 2. A FLEASE is often loaded with BOGUS front and back end fees. For example, acquistion fee. This can be a legitimate fee to pass along an expense however this fee is often padded to within the $400-$1000 range. When you question this, the salesman lies to you and tells you its all going to the FLEASE company. Did you also pay whats known in the business as the "dealer fraud fee"? No, its not a fee to cover administrative costs. Its an extra added charge with an official sounding name. 3. The FLEASE is governed by a three year contract or more or less. However, in order to STICK YOU with more charges, milage may be computed on a YEARLY basis. You might be within the total but ran over say in year one. They get you. Why? Because its a FLEASE. 4. At the end of the FLEASE period, you turn in the car, right? The dealer may come up with still another BOGUS fee called "termination". 5. Are you aware she signed a BLANK contract? In the end, somebody will decide what is excess wear and tear. Hit her with a bill of $500-$1000, send the car to auction and pocket the money! Why? Because its a FLEASE. No matter how good they make it sound or how smart they call you for signing such a STUPID deal, its a FLEASE! You will get sheared! No reputable family financial advisor has ever recommended getting into a CAR FLEASE! You guys are into it now! You bet they should have treated her better!